MGIC Investment (MTG -5.2%) tumbles after announcing its intent to defer an interest...

MGIC Investment (MTG-5.2%) tumbles after announcing its intent to defer an interest payment on $389.5M of convertible debt until 2022 (as it's allowed). The move frees up cash for the company as it continues to deal with losses, litigation, and regulatory action. The company last deferred a payment in 2010. (8-K)